Daily Mail: The Co-operative profits up as disillusioned consumers go mutual

The Co-operative Group has recorded a boost in profits as a result of an influx of new account holders disillusioned with Britain's banks. Profits at Britain's largest mutual retailer soared on the success of the merger with Britannia building society and also the purchase of the Somerfield supermarket chain. The group, which traces its roots back to the founding of the co-operative movement in Rochdale in 1844, posted a jump of 85 per cent in profits before payments to members, reaching £402million in the year to January 2.